15 U.S.C. § 9132 — Payroll support program

Page 2562 TITLE 15—COMMERCE AND TRADE § 9132 from the date of agreement until Sep- tember 30, 2021, or the duration of the agreement and receipt of public contribu- tions under this part, whichever period ends later; or (ii) in the case of corporation, firm, or other business entity not specified under subparagraph (i), agrees to refrain from conducting involuntary layoffs or fur- loughs, or reducing pay rates and benefits, for the eligible employee group, subject to the employer’s right to discipline or termi- nate an employee in accordance with em- ployer policy for the duration of the agree- ment and receipt of public contributions under this part. (3) Employee The term ‘‘employee’’ has the meaning given that term in section 203 of title 29. (4) Employer The term ‘‘employer’’ means an aviation manufacturing company that is an employer (as defined in section 203 of title 29). (5) Private contribution The term ‘‘private contribution’’ means the contribution funded by the employer under this part to maintain 50 percent of the eligible employee group’s total compensation level, and combined with the public contribution, is sufficient to maintain the total compensation level for the eligible employee group as of April 1, 2020. (6) Public contribution The term ‘‘public contribution’’ means the contribution funded by the Federal Govern- ment under this part to provide 50 percent of the eligible employees group’s total compensa- tion level, and combined with the private con- tribution, is sufficient to maintain the total compensation level for those in the eligible employee group as of April 1, 2020. (7) Secretary The term ‘‘Secretary’’ means the Secretary of Transportation. (8) Total compensation level The term ‘‘total compensation level’’ means the level of total base compensation and bene- fits being provided to an eligible employee group employee, excluding overtime and pre- mium pay, and excluding any Federal, State, or local payroll taxes paid, as of April 1, 2020. (Pub. L. 117–2, title VII, § 7201, Mar. 11, 2021, 135 Stat. 101.) Editorial Notes CODIFICATION Section was enacted as part of the American Rescue Plan Act of 2021, and not as part of the CARES Act which in part comprises this chapter. § 9132. Payroll support program (a) In General The Secretary shall establish a payroll sup- port program and enter into agreements with employers who meet the eligibility criteria specified in subsection (b) and are not ineligible under subsection (c), to provide public contribu- tions to supplement compensation of an eligible employee group. There is appropriated for fiscal year 2021, out of amounts in the Treasury not otherwise appropriated, $3,000,000,000, to remain available until September 30, 2023, for the Sec- retary to carry out the payroll support program authorized under the preceding sentence for which 1 percent of the funds may be used for im- plementation costs and administrative expenses. (b) Eligibility The Secretary shall enter into an agreement and provide public contributions, for a term no longer than 6 months, solely with an employer that agrees to use the funds received under an agreement exclusively for the continuation of employee wages, salaries, and benefits, to main- tain the total compensation level for the eligi- ble employee group as of April 1, 2020 for the du- ration of the agreement, and to facilitate the re- tention, rehire, or recall of employees of the em- ployer, except that such funds may not be used for back pay of returning rehired or recalled em- ployees. (c) Ineligibility The Secretary may not enter into any agree- ment under this section with an employer who was allowed a credit under section 2301 of the CARES Act (26 U.S.C. 3111 note) for the imme- diately preceding calendar quarter ending before such agreement is entered into, who received fi- nancial assistance under section 9073 of this title, or who is currently expending financial as- sistance under the paycheck protection program established under section 636(a)(36) of this title, as of the date the employer submits an applica- tion under the payroll support program estab- lished under subsection (a). (d) Reductions To address any shortfall in assistance that would otherwise be provided under this part, the Secretary shall reduce, on a pro rata basis, the financial assistance provided under this part. (e) Agreement Deadline No agreement may be entered into by the Sec- retary under the payroll support program estab- lished under subsection (a) after the last day of the 6 month period that begins on the effective date of the first agreement entered into under such program. (Pub. L. 117–2, title VII, § 7202, Mar. 11, 2021, 135 Stat. 103.) Editorial Notes REFERENCES IN TEXT Section 2301 of the CARES Act, referred to in subsec. (c), is section 2301 of Pub. L. 116–136, which is set out as a note under section 3111 of Title 26, Internal Revenue Code. CODIFICATION Section was enacted as part of the American Rescue Plan Act of 2021, and not as part of the CARES Act which in part comprises this chapter. Page 2563 TITLE 15—COMMERCE AND TRADE § 9141 1 So in original. Probably should be followed by ‘‘to’’. 2 So in original. The period probably should be a semicolon. PART G—AIRLINES Editorial Notes CODIFICATION Part G was enacted as part of the American Rescue Plan Act of 2021, and not as part of the CARES Act which in part comprises this chapter. § 9141. Air transportation payroll support pro- gram extension (a) Definitions The definitions in section 40102(a) of title 49 shall apply with respect to terms used in this section, except that— (1) the term ‘‘catering functions’’ means preparation, assembly, or both, of food, bev- erages, provisions and related supplies for de- livery, and the delivery of such items, directly to aircraft or to a location on or near airport property for subsequent delivery to aircraft; (2) the term ‘‘contractor’’ means— (A) a person that performs, under contract with a passenger air carrier conducting oper- ations under part 121 of title 14, Code of Fed- eral Regulations— (i) catering functions; or (ii) functions on the property of an air- port that are directly related to the air transportation of persons, property, or mail, including the loading and unloading of property on aircraft, assistance to pas- sengers under part 382 of title 14, Code of Federal Regulations, security, airport ticketing and check-in functions, ground- handling of aircraft, or aircraft cleaning and sanitization functions and waste re- moval; or (B) a subcontractor that performs such functions; (3) the term ‘‘employee’’ means an indi- vidual, other than a corporate officer, who is employed by an air carrier or a contractor; (4) the term ‘‘eligible air carrier’’ means an air carrier that— (A) received financial assistance pursuant 1 section 9092(a)(1) of this title; (B) provides air transportation as of March 31, 2021; (C) has not conducted involuntary fur- loughs or reduced pay rates or benefits be- tween March 31, 2021, and the date on which the air carrier makes a certification to the Secretary pursuant to subparagraph (D); and (D) certifies to the Secretary that such air carrier will— (i) refrain from conducting involuntary furloughs or reducing pay rates or benefits until September 30, 2021, or the date on which assistance provided under this sec- tion is exhausted, whichever is later; (ii) refrain from purchasing an equity se- curity of the air carrier or the parent com- pany of the air carrier that is listed on a national securities exchange through Sep- tember 30, 2022; (iii) refrain from paying dividends, or making other capital distributions, with respect to common stock (or equivalent in- terest) of such air carrier through Sep- tember 30, 2022; (iv) during the 2-year period beginning April 1, 2021, and ending April 1, 2023, re- frain from paying— (I) any officer or employee of the air carrier whose total compensation ex- ceeded $425,000 in calendar year 2019 (other than an employee whose com- pensation is determined through an ex- isting collective bargaining agreement entered into prior to March 11, 2021)— (aa) total compensation that ex- ceeds, during any 12 consecutive months of such 2-year period, the total compensation received by the officer or employee from the air carrier in cal- endar year 2019; or (bb) severance pay or other benefits upon termination of employment with the air carrier which exceeds twice the maximum total compensation received by the officer or employee from the air carrier in calendar year 2019; and (II) any officer or employee of the air carrier whose total compensation ex- ceeded $3,000,000 in calendar year 2019 during any 12 consecutive months of such period total compensation in excess of the sum of— (aa) $3,000,000; and (bb) 50 percent of the excess over $3,000,000 of the total compensation re- ceived by the officer or employee from the air carrier in calendar year 2019.2 (5) the term ‘‘eligible contractor’’ means a contractor that— (A) received financial assistance pursuant to section 9092(a)(2) of this title; (B) performs one or more of the functions described under paragraph (2) as of March 31, 2021; (C) has not conducted involuntary fur- loughs or reduced pay rates or benefits be- tween March 31, 2021, and the date on which the contractor makes a certification to the Secretary pursuant to subparagraph (D); and (D) certifies to the Secretary that such contractor will— (i) refrain from conducting involuntary furloughs or reducing pay rates or benefits until September 30, 2021, or the date on which assistance provided under this sec- tion is exhausted, whichever is later; (ii) refrain from purchasing an equity se- curity of the contractor or the parent com- pany of the contractor that is listed on a national securities exchange through Sep- tember 30, 2022; (iii) refrain from paying dividends, or making other capital distributions, with respect to common stock (or equivalent in- terest) of the contractor through Sep- tember 30, 2022; (iv) during the 2-year period beginning April 1, 2021, and ending April 1, 2023, re- frain from paying—